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  • #12,541
  • Apr 1, 2016 1:36am Apr 1, 2016 1:36am
working on a big smorgasbord of long vol trades - this a UVXY Jun $65/$70 bull call vert for 12c - yes a $5 spread for 12c....so $12 to make ~$480 if an asteroid scores a direct hit on the CBOE b4 Jun opex......actually, this spread will make money if UVXY goes above $30 by May opex....I got a million un em
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #12,542
  • Apr 1, 2016 1:14pm Apr 1, 2016 1:14pm
woke up b4 the NY open today, saw /es gapping down, thought man I should fade that, looked for a sec, scalping options never been my game, went back to sleep.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #12,543
  • Apr 1, 2016 1:40pm Apr 1, 2016 1:40pm
Quoting The Fool
working on a big smorgasbord of long vol trades - this a UVXY Jun $65/$70 bull call vert for 12c - yes a $5 spread for 12c....so $12 to make ~$480 if an asteroid scores a direct hit on the CBOE b4 Jun opex......actually, this spread will make money if UVXY goes above $30 by May opex....I got a million un em {image}


I wouldn't bet against it
  • #12,544
  • Edited 2:11pm Apr 1, 2016 1:50pm | Edited 2:11pm
Quoting Cecil Gee
I wouldn't bet against it
well, I'm not putting much on $65/$70 - but I have quite a few closer in.....if I see something out there Apr5 and beyond and I can fill it less than $0.15 per $1 spread. I'm on it ----- I filled Jun UVXY $27/30 bull calls for $0.40 a couple days ago,....VXX $20.50/$21 Apr5 calls for 6c, etc etc quite a few like that....the closer to itm the better so if we get a vol spike they can have a chance at maxP
"If The Fool persists in his Folly he will become wise." - William Blake
  • #12,545
  • Apr 1, 2016 2:06pm Apr 1, 2016 2:06pm
My bullish SVXY trades are working out pretty well.....paid 20c for the Apr $53/55 bull calls & they're net $0.68 right now....maxP about $1.75 but clock is ticking....if we could get a big bull run next week I would take anything >$0.80, boy a buck would be nice....the Jun fly I will be looking to close partially, too.....no need to be a hero
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #12,546
  • Apr 1, 2016 2:09pm Apr 1, 2016 2:09pm
Cecil, how you liking them VIX Apr4 $14 long puts? tick tock on them, too....I see near 33c for them atm, I still have a 50c gtc on them but was actually thinking of closing them now....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #12,547
  • Apr 1, 2016 2:56pm Apr 1, 2016 2:56pm
Quoting The Fool
My bullish SVXY trades are working out pretty well.....paid 20c for the Apr $53/55 bull calls & they're net $0.68 right now
...took half the verts off at $0.85
"If The Fool persists in his Folly he will become wise." - William Blake
  • #12,548
  • Apr 1, 2016 3:35pm Apr 1, 2016 3:35pm
Quoting The Fool
Cecil, how you liking them VIX Apr4 $14 long puts? tick tock on them, too....I see near 33c for them atm, I still have a 50c gtc on them but was actually thinking of closing them now....
....I closed mine all @ 35c....making hay while the sun shines....I hope they run some more for ya next week, Cecil......but the clock is ticking and ^VIX could start to get sticky down there <$13........Fool's Day so I took the day off, sat in the sun & did a lot of tradin....locked in some profits to close out March.....I have some good bullish trades for Apr - AAPL Apr/May $120 calls, IWM $113/$115 vert calls, Apr/Apr4 SPY $212 calendar, Apr/Apr4 SPY $210/210.5 diagonal, still some SVXY spreads, etc..............I might look for some st bullish trades for the long Apr month, but I am still looking for volatility to pick up in May, have positioned accordingly....have a good weekend, ya'll....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #12,549
  • Apr 1, 2016 3:48pm Apr 1, 2016 3:48pm
Quoting ZebraSquirl
I may regret this later, but filled a VRX May 20th 15 short put for a 1.37 credit today. It's $11 away from current price ($26), so I basically was unable to resist. Will take it off at 50% max.
Out of that nonsense at around 20% max profit on the upmove it experienced today ... . Really not my cup of tea, those types of trades ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #12,550
  • Apr 1, 2016 3:50pm Apr 1, 2016 3:50pm
SVXY wide Jun call fly is sitting near its sweet spot, never meant to hold this til Jun, not too much to gain by waiting, so I will prolly cash it in next week......will look for some cheap SVXY put verts for Jun down under $45
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #12,551
  • Apr 1, 2016 4:03pm Apr 1, 2016 4:03pm
Put on another VXX long call diagonal: a Sept 16th 13/May 6th 17.5 for 3.73. Plenty of time to work out and not much to maintain ... .

I've already collected credits of about 30% of the original value of the long call in the Sept 16th 14/May 21 VXX diagonal; all's I will need going forward is some kind of up move ... . That 14 long is looking kind of battered down there now that we're at 17 and change ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #12,552
  • Apr 1, 2016 4:11pm Apr 1, 2016 4:11pm
Quoting The Fool
{quote} well, I'm not putting much on $65/$70 - but I have quite a few closer in.....if I see something out there Apr5 and beyond and I can fill it less than $0.15 per $1 spread. I'm on it ----- I filled Jun UVXY $27/30 bull calls for $0.40 a couple days ago,....VXX $20.50/$21 Apr5 calls for 6c, etc etc quite a few like that....the closer to itm the better so if we get a vol spike they can have a chance at maxP
Good ideas. I'll turn to working the top side (bull call verts) early next week, particularly if we dawdle down here ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #12,553
  • Apr 1, 2016 5:28pm Apr 1, 2016 5:28pm
Quoting The Fool
Cecil, how you liking them VIX Apr4 $14 long puts? tick tock on them, too....I see near 33c for them atm, I still have a 50c gtc on them but was actually thinking of closing them now....
I'm holding on until 12.50 is hit or if I get a whole $ giving me a x20 return, then I'll wait for the big one on the VIX once it all aligns with the S/P it isn't that far away
  • #12,554
  • Apr 1, 2016 7:21pm Apr 1, 2016 7:21pm
Quoting Cecil Gee
I'm holding on until 12.50 is hit or if I get a whole $ giving me a x20 return, then I'll wait for the big one on the VIX once it all aligns with the S/P it isn't that far away
I admire your patience & I think there will be more room to run lower for the ^VIX. In truth, I will not be surprised to see the US equity indices trend up all the way thru earnings season, or about the end of April, anyway. Maybe we will see new ath's for the SnP - north of 2,150. I am not in a hurry to sell SPY call spreads, not yet....
....otoh, I got net 2.5x out on those long VIX puts: if I had averaged that for every dollar I ever put at risk trading, man I would be a lot richer......
"If The Fool persists in his Folly he will become wise." - William Blake
  • #12,555
  • Apr 1, 2016 7:52pm Apr 1, 2016 7:52pm
Quoting The Fool
SVXY wide Jun call fly is sitting near its sweet spot, never meant to hold this til Jun, not too much to gain by waiting, so I will prolly cash it in next week......will look for some cheap SVXY put verts for Jun down under $45
IF I could fill $8+ wide or wider flys like this one for 10c boy howdy I'd be on it like stink on a monkey. Will see in the coming weeks ....
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #12,556
  • Apr 1, 2016 8:09pm Apr 1, 2016 8:09pm
it has taken about 4 weeks for SVXY to come from $40 to $52, I spec it would take about that long for it to make $65, although I bet it will be capped around $60 in late April.....rememberz if you are trading SVXY, the puts benefit from rising IV - vice versa for UVXY
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #12,557
  • Apr 1, 2016 8:53pm Apr 1, 2016 8:53pm
nothing sexier than long vol - but also, very fickle........​.Jun UVXY $32/$40 calls for 50c? 50c on a $8 spread, maxP needs a tall ^VIX pop but $40 is not sky high - maxP = $7.50 less comms on a 50c debit, that's near 15x, a $1k stake could give back $15k......
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #12,558
  • Apr 1, 2016 9:19pm Apr 1, 2016 9:19pm
hey look! I made a VIX kitty from two cheap BWB's! Options are more fun than balloon animals!
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #12,559
  • Apr 1, 2016 10:02pm Apr 1, 2016 10:02pm
Quoting ZebraSquirl
Put on another VXX long call diagonal: a Sept 16th 13/May 6th 17.5 for 3.73.... .
that's a short diagonal. something I can't do in the IRA accounts....looks pretty scary...
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #12,560
  • Apr 2, 2016 3:59am Apr 2, 2016 3:59am
Options Trading 101: source - 16 Free Stock Market eBooks - http://www.swing-trade-stocks.com/e-books.html
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